In June 2006, the European Commission (EC) issued new fines guidelines for breaches of the EC competition rules, which will replace the old fines guidelines adopted in 1998. The 2006 guidelines will apply to all cases where the EC issues a Statement of Objections after 1 September, 2006.
They represent a further step in the EC’s ongoing attempts to strengthen enforcement of the competition rules through deterrent fines. The 2006 guidelines are likely to lead to higher fines imposed on companies than in the past, but fines will remain subject to the statutory maximum limit of 10% of a company’s total worldwide turnover in the year preceding the infringement.
